Governor Glenn Youngkin announced the graduation of 13 companies from the Virginia Economic Development Partnership’s VALET program, with another 13 companies joining. The program, aimed at assisting Virginia exporters with established domestic operations, has seen 425 companies graduate since its inception.
“Expanding into global markets is essential to driving Virginia’s economic future, and the VALET program equips businesses with the tools and expertise they need to succeed internationally,” said Governor Glenn Youngkin. “Congratulations to these companies for their ambition and leadership as they pursue new opportunities abroad and help strengthen Virginia’s economy here at home.”
Secretary of Commerce and Trade Juan Pablo Segura noted the significance of the program in helping businesses enter international markets: “For over two decades, the VALET program has played a vital role in helping Virginia businesses break into international markets and boost their global sales.”
The VALET program offers a range of services over two years, including international sales plan development, assistance from experienced service providers, business meetings with potential partners, educational events, and customized market research. Currently, 58 companies are participating.
VEDP President and CEO Jason El Koubi emphasized the impact of Virginia companies in global markets: “The success of Virginia companies in international markets reinforces the Commonwealth’s position as a global economic leader and highlights the strength of VEDP’s VALET program.”
Virginia exports $70 billion annually in goods and services. VEDP International Trade supports 500 existing Virginia companies each year in their international business development efforts. Last year alone, these efforts resulted in $1.5 billion in international sales attributed to VEDP’s assistance.
The Virginia General Assembly created VEDP in 1995 to stimulate economic growth within the Commonwealth through business recruitment, expansion, and trade development.
